Dayton, OH–December, 2017– Barratt Asset Management acquired Mad River Apartments, a 302-unit, garden-style community located in Dayton’s south suburbs. Mad River is ideally situated adjacent to the Dayton Mall, the metro area’s main regional retail destination. The property is near both primary thoroughfares and Interstates (I-75, I-675, SR 725, and SR 741); making for an easy commute to some of the region’s largest employers. Interestingly, Mad River is less than five miles northeast of Austin Landing, which is Dayton’s newest Class A mixed-use development with 1 M+ SF of space completed, under construction, or in the planning phase (2,200 employees). Debbie Corson and Matt Newcomer of ARA Newmark represented the seller, The Connor Group.
“We couldn’t be more excited to push into Ohio, as it has been on our radar for some time. The property was completely renovated by The Connor Group in 2015-2016, and we will continue to operate the property as one of the premier communities within the submarket,” explained Adam Ehret, Principal & Vice President of Acquisitions and Asset Management.
“Mad River stands out when one looks at what is in our existing portfolio,” said Ivan Barratt, Founder & CEO. This acquisition achieves quite a few milestones for BAM and that is very exciting to see.” With the addition of Mad River, the portfolio has increased by over one thousands units in the previous twelve months.
For more information about BAM visit: www.barrattassetmanagement.com.
Barratt Asset Management
Headquartered in Indianapolis, IN, Barratt Asset Management was formed in July of 2010. From humble beginnings, BAM has grown from the management of a few small properties to over 100 million in total assets under management and ownership. BAM specializes in both the acquisition and management of multifamily apartment communities. BAM provides a wide array of real estate services; leveraging the knowledge and strengths of employees and local market expertise to achieve maximum benefit for community residents and investors alike. The company has expanded its portfolio under the shared mindset of steady and deliberate growth. BAM’s team consists of nearly fifty employees with decades of experience in apartment management and ownership. Further, the company culture is to execute best practices in: leasing, marketing, back-office infrastructure, technology, timely service, renovations, maintenance, and valuable outside vendor relationships. BAM continuously strives to perform at the highest level for its own portfolio as well as its third-party property management clients.